Notice of disbursement and right to cancel a
federal Direct Student loan
Federal student loan funds will begin crediting to student accounts beginning September 14, 2020 for
the Fall 2020 term. Refunds for Fall 2020 will begin September 25, 2020 for fall full term and mini
mester A classes. Refunds for minimester B classes will begin November 20, 2020. If you are enrolled
in both full-term and mini mester B classes, your refund will process November 20, 2020. If your loan is
not disbursed during this period, funds are received and credited on a bi-weekly basis thereafter.
Specific loan disbursement amounts and dates of credit to your student account may be viewed via
BannerWeb under Student Account.
Click here to access BannerWeb:
1.select student account,
2. Select account detail for term,
3. select term.
As a student borrower, you have the right to cancel the entire loan or any portion (a specific
disbursement) of federal Stafford. Requests to cancel a specific loan disbursement may be submitted
prior to the date of crediting to your account or within 14 days of notification. To request cancellation of
a loan disbursement, please complete a financial aid cancellation form.
If a disbursement has already posted/credited to your account then you may only request to cancel that
disbursement if a refund has not been generated. Please note that you can request to cancel future
disbursements.
If a refund has not been processed you must request to cancel the disbursements within 15 days of
notification that the funds disbursed to your account.
How to get your refund?
The Business Office will begin issuing refunds September 25, 2020 for full term and mini mester one
classes and will continue every other week as loans are disbursed to student accounts.
BankMobile is the official Southern Crescent Technical College Refund Disbursement Processor.
Students are expected to activate the BankMobile "refund selection" to choose how they wish to
receive refund disbursements from Southern Crescent Technical College. There are multiple options
provided for choosing how to receive refunds. Students can choose to have funds transferred to an
existing bank account, receive a paper check or choose to receive your funds electronically by direct
deposit into your BankMobile account, in which you will receive a BankMobile card for purchases.
All refunds are processed through the BankMobile Disbursement Process.
To learn more about the Southern Crescent Technical College partnership with Bank Mobile, you can
view our contract here.
